Maharashtra CM Devendra Fadnavis signs agreement for Africa-India Business Centre in Mumbai

Mumbai: In a major push to strengthen India-Africa economic ties, the Maharashtra government is facilitating the establishment of the Africa India Business Centre (AIBC) at Kharghar in the satellite township of Navi Mumbai.

As part of the process, the City and Industrial Development Corporation of Maharashtra Ltd (CIDCO) and the Africa India Economic Foundation (AIEF) signed and exchanged an agreement to form a Special Purpose Vehicle (SPV) for the development of the Africa India International Development Zone (AIIDZ).

The proposed Africa-India Business Centre.

The AIBC is envisioned as a landmark integrated hub to strengthen economic, trade and cultural relations between India and African nations. Conceptualised in collaboration with AIEF, the project aims to create a dedicated platform for promoting bilateral trade, investment and institutional partnerships. The initiative aligns with India’s growing leadership in South-South cooperation and seeks to unlock the vast potential of the India-Africa partnership, currently valued at nearly USD 96 billion.

The AIIDZ is expected to become fully operational within the next five to six years.

Envisioned as a self-contained campus, the Africa India International Development Zone will integrate a range of facilities, including a commercial tower, conference centre and habitat block, designed to facilitate seamless interaction and business engagement between African and Indian companies, governments and stakeholders.

The project aims to create a one-stop platform for businesses, trade offices and cultural representation. The centre’s integrated facilities, including 2.5 lakh sq ft of exhibition space, meeting rooms and permanent office spaces for representatives of 54 African nations as well as Indian public and private sector entities, are expected to serve as a catalyst for growth and investment while reducing operational complexities for businesses.

Drawing inspiration from global models such as the Dubai World Trade Centre and CAETE in China, the AIBC is expected to emerge as a premier destination for India-Africa trade and commerce with significant economic impact.

The AIIDZ’s location in the Mumbai Metropolitan Region leverages Mumbai’s status as an economic gateway to the Global South. The project is strategically located near the upcoming Navi Mumbai International Airport and the Jawaharlal Nehru Port, while the International Corporate Park at Kharghar is being developed as one of the prime business districts in the region.

Maharashtra Chief Minister Devendra Fadnavis and Deputy Chief Ministers Eknath Shinde and Sunetra Pawar were present during the exchange of documents between CIDCO and AIEF.

“The Africa India Business Centre is a transformative initiative that will position Maharashtra as a key global hub for India-Africa engagement. By creating a dedicated ecosystem for trade, investment and institutional collaboration, this project will strengthen our economic ties with African nations while opening new avenues for growth, employment and international partnerships,” Fadnavis said.

“As a gateway for the Global South, Maharashtra will, through AIBC, reinforce India’s position as a reliable partner in Africa’s development and advance a future shaped by partnership and opportunity,” said Vijay Singhal, Vice Chairman and Managing Director of CIDCO.